When folks say that getting old isn’t easy, they aren’t kidding. Safety is a growing concern as we age, being safe in the home, your health and physical activity can be worrisome. That said, many seniors prove to be hardy and resourceful. You’ve gotten this far in life, the knowledge and many skills that you picked up along the way over the course of life can be extremely useful to you.
While finances is often one of the top concerns for most seniors, safety comes in as a close second followed by medical concerns. Here are some tips to help make your retirement a safe one. Although illness can be somewhat unpredictable, you can effectively extend your lifespan by following some simple and savvy senior safety tips.
Why Is it Important to Follow Safety Tips as a Senior Citizen?
One thing that many senior citizens don’t readily appreciate about safety tips is the fact that they tend to make them feel either old, incapable, or both. Imagine telling a WWII veteran who stormed countless buildings in their youth to be careful using the stairs.
There’s nothing wrong with wanting your senior loved ones to be safe, but you simply cannot be patronizing about it. They’ll see right through it in a New York minute. When it comes to safety tips for senior citizens, the focus should be on helping seniors stay as independent as possible.
When you’re 65+ and retired, you don’t want to feel helpless, no one does. Senior citizens want and deserve respect. They also want independence. The key is to demonstrate how safety tips can help them retain a sense of independence.
Upgrade Your Home to Make it Safe
If you love your home and you don’t want to have to give it up in exchange for a private or non-private room in a nursing home, you’ll want to invest in some modifications to your home to make it safer to live in.
Aging in place is a popular concept and for good reason. Who wants to ditch the home that they spent so many years of their working life to acquire just to wind up in a squalid nursing home in the twilight of their lives? No one.
By making some simple yet effective upgrades to your home, you can make it a safe place to live and age in place. Try installing more railings, stairlifts, senior-friendly bathtubs, and anything that can make your life easier and safer as a senior citizen.
Don’t Take Unnecessary Physical Risks
Another tip is to avoid taking unnecessary risks as a senior citizen. When you’re young and you have your whole life ahead of you, taking risks seems much more appealing. This creates something of a paradox. Honestly, no one should be taking unnecessary risks whether they’re young or old.
When you play sports, there’s always the chance of an injury, however, it’s much less likely to sustain an injury playing sports when you’re younger than when you’re older. Still, there’s always that chance that something could happen.
The point is, if you’ve made it to 65 or older, it’s best to count your blessings and leave any activities that pose a physical risk to your health to the younger folks. For example, even if you’re accustomed to making repairs to your own roof, it doesn’t mean that you should still be climbing up on the roof to make repairs when you’re in your golden years.
Keep in mind, avoiding unnecessary risks as a senior citizen doesn’t mean that you can’t have any fun. Think of it this way. Wouldn’t you have more fun sipping a cocktail and lounging about on a lawn chair while a professional crew works on your roof than climbing up there on your own and sweating all day making repairs? Enough said.
Make Some Healthy Changes to Your Diet
Although making changes to your diet might not seem like a safety tip, you’d be surprised to know just how much of an impact your diet has on your wellbeing. Eating healthy foods can help you stay mentally sharp and alert which can help you avoid clumsy accidents around the home.
Try increasing your intake of greens, fruits, and healthy grains like quinoa while avoiding excessive amounts of red meat and foods that are high in fat, cholesterol, and sodium. When it comes to a healthy diet it’s important to remember that you can and should reward yourself once and a while.
It’s fine to eat unhealthy food once and a while as long as you aren’t eating it all of the time. A little moderation can go a long way.
Keep Up with Your Doctor Appointments
Finally, if you want to stay healthy and safe throughout your Golden Years, you need to keep up with your doctor appointments. If you’re 65 or older and feeling reasonably healthy, the best way to stay healthy is to follow your doctor’s advice.
Of course, sometimes the doctor’s advice involves something extremely expensive like a certain treatment or a medication that’s not covered by your insurance.
Don’t sacrifice your health to save a buck. You can free up all of the cash you need to pay for medical services simply by selling your life insurance policy to a third-party buyer. Selling your life insurance policy is a safe and straightforward process commonly referred to as a life settlement.
Life Settlements With MRE Finance Can Help You Financially
The life settlement process is even easier when you partner up with a company that knows the ropes. That’s why so many seniors choose to sell their life insurance policies through the experienced team of professionals at MRE Finance.
Our free online life settlement calculator can provide you with an estimated value of your life insurance policy within minutes. Click https://mrefinance.com/free-life-settlement-calculator/ or pick up the phone right now and call the team at MRE Finance today! 1-800-521-0770. We’ll answer all your questions as we walk you through the life settlement process with ease!
Selling a life insurance policy may be a good option for seniors 70 years or older or for individuals who are chronically or terminally ill. It may also be an option if your life circumstances have changed, your premiums are no longer affordable or you no longer have dependents who will need financial support after your passing. With increased uncertainty about the economy, many seniors are looking into how to sell their life insurance policies. Selling your policy for a lump sum cash payment can help you pay for medical bills, vacations, paying off a mortgage, or supplementing retirement while providing you greater financial security and peace of mind.
The policy owner transfers ownership of the policy to a licensed buyer known as a Settlement Provider in return for a cash payment greater than the surrender value but less than the total death benefit. The process is easy. You’ll submit an application with basic information about the policy and the insured person to be evaluated by the Provider.
Information you will need to provide is:
State you live in
Type of life insurance policy you have (whole life, convertible term, or universal life)
The cash surrender value (accumulated cash value) of the policy
Amount of premium you pay per year
Once qualified, the Provider will request additional information such as the life insurance policy documents and the medical records of the insured. The private information you provide is needed for the Provider to make a decision to purchase the policy.
MRE Finance respects your privacy and only works with licensed and reputable Providers. Selling your policy typically allows you to receive more money than if you surrender or terminate the policy with the insurance company for the cash value. If you stop paying the premiums and lapse the policy you typically will receive nothing. People often pursue a life settlement because they no longer need or can afford their life insurance policy and would rather have cash in their pocket. You can use the money received from a life settlement transaction however you’d like, including paying for long-term care needs, medical bills, or funding your retirement
The buyer/provider will walk you through the process and with the information you provide they are able to determine if you qualify and then make an offer to purchase your life insurance policy
Health questionnaire. You’ll need to complete a health questionnaire.
Authorization. The insured and the policy owner (if different from the insured) will need to provide authorization for the life settlement Provider to contact the insurance company on your behalf and access medical records.
Insurance Policy Documents. You will need to provide a copy of the life insurance policy. If you don’t have copies available, the life settlement Provider can request these documents from the insurance company with your authorization.
Evaluation. The life settlement Provider will evaluate all the details of the policy and medical records to help determine value.
Offer. With all the necessary information, the life settlement provider may proceed with making you a cash offer for the policy.
Closing. The closing process is the actual transfer of ownership of the policy to the Provider with all the accompanying documentation. During closing, your settlement payment will be placed in escrow until your insurance company has verified the change of ownership. Once verified, the escrow agent releases the funds and you receive your cash payout.
Overall the process takes approximately 6-8 weeks for settlement to be finalized with an experienced Provider, but timelines can vary based on who your insurance company is and the Provider receiving the needed documents.
A viatical settlement is a life settlement for those with a terminal or chronic disease. These typically are the highest valued policies – often 2 to 3 times more than a life settlement as the policyholder has a limited life expectancy. Viatical settlements are typically used by individuals who need to pay for medical expenses now, so they choose to forgo the full value of the benefit in the event of their passing and receive a payment now.
A Life settlement refers to the legal transaction between the life insurance policyholder and a third-party buyer known as a Settlement Provider for an upfront payment. Life settlement cash payouts are typically higher than your policy’s cash surrender value but less than the total death benefit of the policy. Some of the reasons why people choose a life settlement include; unaffordable premiums, medical bills, supplementing retirement, emergencies, or if they no longer need the policy for their dependents or other personal reasons. A life settlement is usually a better alternative to lapsing or the surrender of a life insurance policy.
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